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Oil extends losses ahead of expected interest rate hikes

*Cushing, Okla., is a major oil storage site. London — Oil extended losses on Wednesday after plunging 5% in the previous session, as investors priced in expectations for interest rate hikes in the U.S. and […]

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Nigeria, Iraqi outages curb OPEC April output

*The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen outside of OPEC’s headquarters in Vienna, Austria April 9, 2020. REUTERS/Leonhard Foeger London — OPEC oil output fell in April due to […]

CEO of Italy’s Eni sees no major energy price upsets in 2023

*Claudio Descalzi, CEO of Italian energy company Eni Rome — The CEO of Italian oil and gas company Eni, Claudio Descalzi, has said he does not expect any “big shocks” on the energy markets this […]

Shelf Drilling secures $11m short-term drilling contract offshore Nigeria

*The Adriatic 1 jack-up drilling rig Lagos — Shelf Drilling, Ltd. has secured a short-term contract for the Adriatic I for operations offshore Nigeria, with a firm term of 90 days and an estimated contract […]

Eni Q1 net profit beats expectations on strong gas business

Milan — Italian energy group Eni said on Friday its first-quarter net profit fell 11% year on year on lower oil and gas prices compared with the first three months of 2022, when Russia’s invasion of […]

Stakeholders demand establishment of 18 modular refineries

*Unveiling of the Network on Organised Crimes in Nigeria and the Gulf of Guinea, held in Port Harcourt – To mitigate organized crimes– Buhari affirms Nigeria’s commitment to tackling crime in GoG Mkpoikana Udoma Port […]

TotalEnergies urges rejection of climate resolution submitted by shareholders

Paris — French oil major TotalEnergies on Friday urged shareholders to reject an AGM resolution seeking accelerated cuts under the French oil major’s greenhouse gas emission reduction programme. The resolution was submitted to the May […]

Nigeria’s gas output declines 6.72% to 149.26bscf in one month

Shell gas flare at Kolo Creek – surrounded by agricultural fields. Ike Amos Dublin, Ireland — Oil and gas companies operating in the country produced 149.263 billion standard cubic feet (SCF) of gas in February […]

TotalEnergies, number 2 in employee share ownership in Europe

*Patrick Pouyanne – Launches annual capital increase reserved for employees– Announces the first interim dividend of €0.74/share for fiscal year 2023 Lagos — The Board of Directors of TotalEnergies SE, meeting on April 26, 2023, […]

FG suspends removal of fuel subsidy

*Fuel dispenser pump Abuja — The National Economic Council, NEC, has suspended the planned removal of petrol subsidy by the Federal Government as from June this year. The council met on Thursday at the Council […]